WHO'S TOP OF EUROPE'S EQUITY FUNDS?
European funds are becoming a major part of the fund-managment
business. The number of new funds is increasing each year. US pension
funds alone will pump another $12 billion into international stocks this
year, bringing their total portfolio of foreign assets to nearly $27
billion, double what it was two years ago. The growing number of Erisa
fund managers attests to the competition.
Last year was highly successful for European fund managers. The
strength of the dollar through most of the year helped stimulate
export-led growth for European companies. This combined with a buoyant
domestic demand to produce a strong showing in most markets. Because of
the relatively large number of...
